Romualdez applauds PBBM’s signing of laws benefiting elderly, local industries

February 26, 2024 Ryan Ponce Pacpaco 77 views

SPEAKER Ferdinand Martin G. Romualdez yesterday lauded President Ferdinand “Bongbong” R. Marcos Jr. for his unwavering commitment to the welfare and prosperity of the Filipino people through the enactment of two vital pieces of legislation aimed at uplifting the elderly population and bolstering Philippine-made products and services.

The President enacted two significant measures into law: Republic Act (RA) No. 11981, also known as the Tatak Pinoy Act, and RA 11982, or An Act Granting Benefits to Filipino Octogenarians and Nonagenarians.

“The enactment of RA 11981 and RA 11982 reflects President Bongbong Marcos’ unwavering commitment to
prioritizing the welfare of our citizens, particularly the elderly, while concurrently advancing the growth and sustainability of local industries,” Speaker Romualdez, leader of the 300-plus-strong House of Representatives, said.

He continued, “We commend President Marcos for his resolute leadership and unwavering dedication to furthering the welfare and interests of the Filipino people. These legislative victories underscore our shared determination to construct a more prosperous and inclusive nation for future generations.”

The Speaker commended the enactment of the Tatak Pinoy Act, a legislation for which he is one of the principal authors, describing it as “a significant leap forward in fortifying our local industries and highlighting Philippine-made products on the global stage.”

“The President’s vision for a dynamic and competitive local market is evident in this legislation, aimed at stimulating economic growth and fostering opportunities for our indigenous businesses,” the Speaker remarked.

The new law establishes the Tatak Pilipino Council, tasked with formulating, financing, and implementing the Tatak Pinoy Strategy, with the goal of diversifying production and promoting high-quality Philippine-made products.

Centered on industrialization and employment generation, the legislation champions private sector partnerships, continuous improvement of local enterprises, and strategic sector identification.

Moreover, the Tatak Pinoy Act prioritizes inclusive economic growth by extending support to disadvantaged sectors, including the urban poor, subsistence farmers, indigenous communities, and micro, small, and medium-sized enterprises or MSMEs.

“The enactment of the Tatak Pinoy Act marks a significant milestone in our efforts to empower Filipino enterprises and drive sustainable economic development. Together, we will harness the potential of our workforce and propel our nation towards greater prosperity,” the House chief said.

Speaker Romualdez also praised the President for signing into law the measure providing a P10,000 cash gift to Filipinos upon reaching ages 80, 85, 90, and 95, while instituting an Elderly Data Management System.

This legislation extends the coverage of RA 10868, or the Centenarians Act, which grants a P100,000 cash gift to those reaching 100 years old.

According to the Speaker, RA 11982 embodies the Marcos administration’s profound acknowledgment of the invaluable contributions and sacrifices of the elderly demographic.

This law also bestows essential benefits and privileges upon Filipino citizens aged 80 years and above, guaranteeing their access to quality healthcare, social services, and other forms of assistance conducive to a dignified and comfortable livelihood during their twilight years.

“Our esteemed elderly citizens have dedicated their lives to the betterment of our nation, and it is our solemn duty to ensure they receive the care and support befitting their legacy,” Speaker Romualdez pointed out.

“RA 11982 stands as a testament to our unwavering commitment to honoring their indelible contributions and safeguarding their well-being,” he added.